Real Estate’s One-Stop Shop – an Interview with Ken Trepeta

In these difficult days, it’s reassuring to know
that there are people behind the scenes helping to make the gift of
homeownership a reality for many. I recently interviewed Ken Trepeta,
President and Executive Director of the Real Estate Services Providers Council
(RESPRO®), to learn
about the RESPRO® mission
and find out how real estate professionals around the country are still closing
transactions in the middle of a pandemic. Here are some of the main takeaways:

People Are Still Getting Deals Done

In these unprecedented times, there may be
impediments to getting deals done but, even in the hardest hit areas, transactions
are still closing. Whether it’s by way of virtual tours or other technologies, such
as e-signatures or remote notarizations, people are being very creative,
resourceful and entrepreneurial in how they are continuing to keep things
moving forward. Many are learning new, more effective and efficient ways to
conduct business than they might have in the past. It’s also important to
remember that real estate transactions generally take some time so, even if an
area is essentially shut down, there is still a lot of foundation that can be laid
in the background to keep things moving in the right direction.

We’re All in the Same Storm, but Not
Everybody’s in the Same Boat

Different states were affected differently
by the COVID-19 pandemic and they are opening up in different ways right now.
Some of the hardest-hit areas will be slower to get back moving. Meanwhile, in
areas that have been less affected, the market will be quicker to get back to
activity. If we weather this storm, demand will get shifted to later in the
season. The economy will come roaring back, so we must also get ready to come
back strong. Real estate will be at the forefront of a bounce-back. People are ready to live life again and part of living life
again is getting a new home or upgrading their current one.

Service Is Still at a Premium

When this storm has passed, those who
experienced difficulty will remember who was there to provide help – and who
was not. Now more than ever, it’s vital to be a voice of support and advice for
your customers. Technology has its place, but old-fashioned customer service
and caring for people is still at a premium and that will continue into the
future.

April 28, 2020

I had the pleasure of interviewing the Chief Executive Officer at Mountain Lake Consulting, Inc., and former CEO and President of the Mortgage Bankers Association (MBA) about the current economic situation. Here are some of the top takeaways.